How High Will Dogecoin Price Go If Bitcoin Hits $80k?

Frank bevah
Updated
Frank bevah

Frank bevah

Market Analyst
Frankbevah is a senior crypto market analyst and stock Journalist with four years of industry experience. He focuses on in-depth market analysis, emerging trends, and real-time developments across cryptocurrency and equity markets.
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How High Will Dogecoin Price Go If Bitcoin Hits $80k?
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Highlights

  • Bitcoin holding above $80,000 could propel Dogecoin toward $0.10 initially.
  • ETF inflows and greed sentiment strengthen demand for riskier memecoins.
  • Dogecoin price must clear $0.09 before targeting $0.11 and $0.12 levels.

Dogecoin price could climb toward $0.10 if Bitcoin breaks $80,000 and keeps that level as support.

The meme coin’s price rose to around $0.083, an increase of 5% over the last 24 hours. Bitcoin price, on the other hand, was around $77,500 after touching a high of $79,200 in its most recent rally.

Bitcoin’s Push Toward $80K Fuels Dogecoin Price Momentum

Bitcoin price has increased over 20% during the past week, marking its biggest weekly gain since March 2023. Additionally, the rally took Bitcoin to a new 14-week high around $79,000 before prices calmed down.

The bear market conditions forced liquidations, which helped the advance. Over $1 billion in short sales were lost in 24 hours, with total estimates coming in at $4.3 billion for four days.

Bitcoin price now faces resistance around $80,000, a level that previously served as both support and resistance. If the market manages to break and close above that area weekly, it could further reinforce the bull market structure of the market.

When the general risk attitude of cryptocurrencies improves, Dogecoin price sometimes outperforms Bitcoin. A 6% to 10% DOGE increase would place its price between $0.09 and $0.093.

If the future Bitcoin outlook is able to break over $80,000 and fails to immediately reverse, then that range looks likely.

ETF Inflows Strengthen the Crypto Market Rally

Institutional demand is back as spot Bitcoin exchange-traded funds (ETFs) have seen three straight sessions of inflows. BlackRock’s IBIT led the latest session with $285 million, which brought in a total of $517 million. On Aug. 20, Dogecoin ETFs saw $654,420 in inflows, bringing total inflows to $12.29 million, with net assets at $11.49 million and trading volume at $1.65 million.

How High Will Dogecoin Price Go If Bitcoin Hits $80k?
Source: Sosovalue data

During those three trading days, Bitcoin products attracted almost $1 billion. According to Wall Street Journal reports, there has been $1.6 billion inflow into Bitcoin ETFs over the past four days from Monday to Thursday. Prices were supported by these flows, along with downbeat sentiment from regulators and a falling dollar.

Sentiment climbed back to 71 on the Crypto Fear and Greed Index, putting it back in the “greed” zone. The increased confidence could lead to traders shifting their profits into Dogecoin and other riskier tokens.

Can Dogecoin Price Break $0.10 and Target $0.12?

To reach $0.10, DOGE price should rise about 18% from $0.085. Therefore, Bitcoin merely touching $80,000 may not generate enough demand.

In the stronger case, Bitcoin must break above $80,000, making it the new support level. This could free up capital for altcoins and memecoins.

Dogecoin price will need to overcome resistance in the vicinity of $0.086 and then the psychological barrier of $0.09. According to CoinGecko data, trading volume surged over $1.4 billion, indicating renewed activity in the market.

How High Will Dogecoin Price Go If Bitcoin Hits $80k?
Source: Tradingview

If the long-term DOGE projection breaks above the $0.09 level, it may head to the $0.095 mark before reaching $0.10. 

A close above $0.10 daily might leave space to push towards $0.11 and $0.12. To achieve $0.12, there would be a need to increase by about 40% of $0.085.

A downfall of the area may reveal $0.075 prior to another recovery initiative. At present, the first target is most likely to be $0.09, and then, possibly, $0.10 should the momentum continue.

Investment disclaimer: The content reflects the author's personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Frequently Asked Questions (FAQs)

1. How high could Dogecoin rise if Bitcoin reaches $80,000?

Dogecoin could initially rise toward $0.09 or $0.10 if Bitcoin breaks $80,000. Sustained Bitcoin strength would increase the likelihood of further DOGE gains.

2. Why does Bitcoin’s price affect Dogecoin?

Bitcoin often determines overall cryptocurrency market sentiment and liquidity. When Bitcoin rallies, traders may rotate profits into higher-risk assets such as Dogecoin.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

DOGE

Dogecoin

$0.07016841 0.56% (24h)

24 Hours volume

$218.86M

Market Cap

$10.47B

Max Supply

NA

Buy $DOGE with Binance
About Author
About Author
Frankbevah is a senior crypto market analyst and stock Journalist with four years of industry experience. He focuses on in-depth market analysis, emerging trends, and real-time developments across cryptocurrency and equity markets.